<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>This study examines some key client-adviser characteristics within the New Zealand financial planning landscape. Through an online survey, participants were asked about their choice of financial adviser, their experience of financial advice and their view of the 2008 Financial Advisers Act. Descriptive results reveal a lack of knowledge in differentiating between the types of advisers and each adviser’s scope of service. Clients of financial advisers who adhere to minimum education standards are significantly different from clients who contract the services of advisers without set standards. Implications include adopting a nationwide marketing campaign and significant regulatory changes to help all consumers identify appropriate financial service professionals for their needs.</p>
</abstract>

This study examines some key client-adviser characteristics within the New Zealand financial planning landscape. Through an online survey, participants were asked about their choice of financial adviser, their experience of financial advice and their view of the 2008 Financial Advisers Act. Descriptive results reveal a lack of knowledge in differentiating between the types of advisers and each adviser’s scope of service. Clients of financial advisers who adhere to minimum education standards are significantly different from clients who contract the services of advisers without set standards. Implications include adopting a nationwide marketing campaign and significant regulatory changes to help all consumers identify appropriate financial service professionals for their needs.

Consumers of Financial Advice in New Zealand

Financial Planning Research Journal

This work is licensed under the Creative Commons Attribution 4.0 International License.

{"article-title":"Consumers of Financial Advice in New Zealand"}

This study examines some key client-adviser characteristics within the New Zealand financial planning landscape. Through an online survey, participants were...

Consumers of Financial Advice in New Zealand

Publicado en línea: 19 mar 2024

Páginas: 68 - 86

Recibido: 01 dic 2016

Aceptado: 15 jun 2017

DOI: https://doi.org/10.2478/fprj-2017-0009

© 2017 Janine K. Scott, published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.